Chile's trade surplus decreased to USD 371 million in May 2019 from USD 415 million in the same month of the previous year. Exports fell 2.3 percent to USD 6353 million, dragged down by lower sales of mining products (-2.3 percent), namely copper (-2.3 percent), molybdenum (-29.5 percent) and iron (-17.1 percent). Also, shipments decreased for agricultural, forestry and fishing goods (-5.8 percent) and manufactured products (-1.4 percent), of which food (-5.2 percent); basic metals (-38.2 percent); machinery & equipment (-13.5 percent) and cellulose, paper & others (-11.2 percent). Meantime, imports shrank 1.7 percent to USD 5982 million, as purchases slipped for consumption goods (-6.3 percent) and capital goods (-6.7 percent). In contrast, imports of intermediate goods rose 3.6 percent, namely oil (55.7 percent). Balance of Trade in Chile averaged 476.62 USD Million from 1991 until 2019, reaching an all time high of 2968.68 USD Million in April of 2007 and a record low of -1384.72 USD Million in October of 2008.
Balance of Trade in Chile is expected to be 470.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Chile to stand at 300.00 in 12 months time. In the long-term, the Chile Balance of Trade is projected to trend around 500.00 USD Million in 2020, according to our econometric models.